J. C. PENNEY COMPANY, INC. (NYSE:JCP) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07
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Submission of Matters to a Vote of Security Holders.
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of Stockholders on May 19, 2017. At the Annual Meeting,
stockholders considered and voted upon six proposals: (1) to
elect eleven directors nominated by the Board of Directors for a
one-year term expiring at the next annual meeting of stockholders
or until their successors are elected and qualified; (2) to
ratify the appointment of KPMG LLP as the Companys independent
auditor for the fiscal year ending February 3, 2018; (3) approval
of an amendment and extension of the Companys Amended and
Restated Rights Agreement in order to continue to protect the tax
benefits of the Companys net operating loss carryforwards; (4)
approval of the J. C. Penney Corporation, Inc. Amended and
Restated Management Incentive Compensation Program; (5) approval,
on an advisory basis, of the compensation of the Companys named
executive officers as described in the Companys Proxy Statement;
and (6) approval, on an advisory basis, of the frequency of
holding future advisory votes on executive compensation. The
final results of the voting on each proposal were as follows:
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1.
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Election of Directors.
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Nominee
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For
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Against
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Abstain
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Broker
Non-Votes
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||||
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Paul J. Brown
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130,992,082
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13,943,261
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4,832,668
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99,278,856
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||||
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Marvin R. Ellison
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141,977,612
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3,424,789
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4,365,610
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99,278,856
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||||
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Amanda Ginsberg
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130,508,886
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14,467,987
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4,791,138
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99,278,856
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||||
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B. Craig Owens
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141,441,444
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3,452,544
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4,874,023
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99,278,856
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Lisa A. Payne
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141,473,241
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3,496,107
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4,798,663
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99,278,856
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Debora A. Plunkett
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141,431,365
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3,584,000
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4,752,646
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99,278,856
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||||
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J. Paul Raines
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131,350,458
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13,589,267
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4,828,286
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99,278,856
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||||
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Leonard H. Roberts
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139,384,367
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5,557,967
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4,825,677
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99,278,856
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||||
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Javier G. Teruel
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141,412,161
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3,577,037
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4,778,813
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99,278,856
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||||
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R. Gerald Turner
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128,441,775
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16,502,310
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4,823,926
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99,278,856
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||||
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Ronald W. Tysoe
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126,404,264
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18,548,958
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4,814,789
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99,278,856
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For
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Against
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Abstain
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Broker Non-Votes
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||||
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243,577,601
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3,701,835
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1,767,431
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N/A
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Restated Rights Agreement.
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For
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Against
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Abstain
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Broker Non-Votes
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||||
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127,816,808
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21,539,895
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411,308
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99,278,856
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Restated Management Incentive Compensation Program.
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For
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Against
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Abstain
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Broker Non-Votes
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||||
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136,350,327
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8,512,186
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4,905,498
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99,278,856
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For
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Against
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Abstain
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Broker Non-Votes
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136,395,102
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8,118,715
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5,254,194
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99,278,856
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Executive Compensation.
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1 Year
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2 Years
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3 Years
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Abstain
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||||
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135,078,978
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3,060,112
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6,638,134
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4,990,787
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future advisory votes on executive compensation annually. Based
on this result and consistent with the Board of Directors
previous recommendation, the Company will hold its advisory vote
on the compensation of its named executive officers annually
until the next required vote on the frequency of stockholder
votes on executive compensation unless changed by further action
of the Board of Directors.
About J. C. PENNEY COMPANY, INC. (NYSE:JCP)
J. C. Penney Company, Inc. is a holding company. The Company’s business consists of selling merchandise and services to consumers through its department stores and its Website at jcpenney.com. Its department stores and Website generally serve the same type of customers, its Website offers virtually the same mix of merchandise as its store assortment and other categories, and its department stores generally accept returns from sales made in stores and through its Website. It fulfills online customer purchases by direct shipment to the customer from its distribution facilities and stores or from its suppliers’ warehouses and by in store customer pick up. The Company sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products through Sephora inside JCPenney, home furnishings and appliances. In addition, its department stores provide its customers with services, such as styling salon, optical, portrait photography and custom decorating. J. C. PENNEY COMPANY, INC. (NYSE:JCP) Recent Trading Information
J. C. PENNEY COMPANY, INC. (NYSE:JCP) closed its last trading session up +0.07 at 4.56 with 18,369,630 shares trading hands.